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US News The boss of the oil giant Eni threatened with a heavy prison sentence

11:15  22 july  2020
11:15  22 july  2020 Source:   pressfrom.com

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Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former In a Milan court, prosecutors asked on Tuesday for eight years in prison for Descalzi and seven years and four In one of the oil industry's biggest suspected scandals, Italian prosecutors

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Le patron du géant du pétrole Eni menacé d’une lourde peine de prison © Pixabay The boss of the oil giant Eni threatened with a heavy prison sentence 8 years in prison were requested by the Milan prosecutor's office against Eni's boss for a corruption case in Nigeria.

The boss of the Italian oil giant Eni could face a heavy prison sentence. The Milan prosecutor's office has requested an eight-year prison sentence against Claudio Descalzi in an alleged corruption case in Nigeria involving Eni and Royal Dutch Shell. Justice suspects that of the $ 1.3 billion paid by the two groups in 2011 for the acquisition in Nigeria of an exploration license for the offshore oil block OPL-245, $ 1.092 billion were bribes. wine.

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* Paolo Scaroni sentenced to three years prison . * Says he will appeal against decision. Paolo Scaroni said he will appeal against the verdict of the court in the north-eastern town of Rovigo, which threatens his chances of being reappointed head of oil giant Eni even though the charges are

The threat of a long prison sentence does not therefore deter them from a criminal lifestyle. The US also has some of the longest prison sentences in the world due to its cultural values including an extreme emphasis on personal responsibility, religious belief in good and evil, and the idea that a

According to the prosecution, Mr. Emeka Obi, a Nigerian owner of the company Energy Venture Partners, was instructed by the former Nigerian Minister of Oil, Dan Etete, to find a buyer for OPL-245, a block that he attributed himself in 1998, by selling it to Malabu, a company he secretly owned. An Italian intermediary, Gianluca Di Nardo, would then have put Mr. Obi in contact with Eni and his boss at the time, Paolo Scaroni, to close the deal. The prosecution also asked Tuesday during his indictment for an eight-year prison sentence for international corruption against Mr. Scaroni, seven years and four months for Malcolm Brinded, former director general of the Exploration and Production division. from Shell and ten years for former Nigerian Minister Etete.

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Oil giant Eni , backed by the Italian government, said it discovered oil in offshore Angola. " Eni is committed to developing this discovery leveraging its best-in-class time-to-market, whilst at the same time launching an intense exploration campaign that will fully support the Company’s mid-term organic

The heavy use of leverage isn't new, with the Italian oil giant routinely at the top of the group. For comparison, Exxon's 0.12 debt-to-equity ratio If you are interested in ENI , Shell looks like a financially stronger entity with a better dividend history and still-solid long-term prospects, even as the energy

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The magistrates also asked for lighter sentences, four and a half years in prison, for several other people involved in this case, as well as the confiscation of 1,092 billion dollars corresponding to the sum considered as a bribe.

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Eni and Shell strongly contest any corruption. Eni said late Tuesday evening in a statement that the prosecution's indictment "is completely unfounded". "There were no Eni bribes in Nigeria and there is no Eni scandal," assured the group, quoted by AGI agency.

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